Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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DAO

DAO – short for Decentralized Autonomous Organization. It is an organization governed by the rules encoded as a computer program. DAO is transparent, controlled by shareholders and not influenced by a central government.

Other Important Terms

Bitcoin ETF

Short for Bitcoin Exchange-Traded Fund. A financial asset that is tied to Bitcoin price, allowing its holder to benefit from Bitcoin price fluctuations without having to store and trade Bitcoin itself.

Liquidation

Liquidation – the automatical placement of sell order for the market price.

Whitepaper

Whitepaper – an official document of a certain cryptocurrency that explains how it works. Can explain novel concepts, contain financial and technological calculations.

Public Key

Public key – a unique alphanumeric string that allows cryptocurrency to be received to user’s wallet. It is generated from the private key. For example, 0418fae4ee 35dae20c20 9da4aa4921 156c3fb519e c33fbf37ec7 13e9c7276dc 9d41bce8825 34118684dc8 e47b6ee49cc ce4c77b197e 38441a06c6d 3a15978c724b is a public key.

ICO

ICO – short for Initial Coin Offering. A way for a cryptocurrency startup to raise money via selling own issued tokens for fiat or a common cryptocurrency, such as Bitcoin or Ether. The money raised is then used to realize the plans described in the startup’s roadmap and whitepaper.

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